Real On Chart Stochastic
The idea of this indicator is to locate popular Stochastic oscillator directly on the chart.
This version depends mainly on Donchian Channel to recalculate Stochastic Oscillator, because Donchian Channel can occupy 100% of price movement unlike other envelopes like Keltner Channels.
The indicator work as a multi time frame index where you can plot upper time frames on the current one.
Also, you can shift the indicator forward and use its value as a trading target.
Real On Chart Stochastic most important inputs
- TimeFrame - timeframe used in calculation (default is current timeframe).
- KPeriod - number of candles used in calculation (default is 5 candles).
- Slowing - number of candles used as smoothing factor (default is 3 candles).
- DPeriod - number of candles used in calculating Signal Line (default is 3 candles).
- OverSold - default is 20% from Donchian Channel Range.
- OverBought - default is 80% from Donchian Channel Range.
- Shift - push indicator's value forward in time.